By Andrew Roberts
September 4, 2013
Salvatore Ferragamo SpA (SFER) Chief Executive Officer Michele Norsa quashed speculation of a buyout, saying the luxury shoemaker has the financial resources to fund expansion as growth accelerates in China and North America.
“I don’t see any reason” for a sale, Norsa said today in an interview on Bloomberg Surveillance with Tom Keene. A 2011 initial public offering gave financial freedom to members of the Ferragamo family, and the Florence, Italy-based company is generating greater-than-expected free cash flow, he said.
“If you become big enough you can survive alone,” Norsa said.
Click the link to read the entire article which includes a quote from Milton Pedraza, CEO of Luxury Institute: